About your Search

20130201
20130228
Search Results 0 to 10 of about 11
.e.o. tim cook sheds little light on how the company plans to use its hoard of cash. that and more tonight on "n.b.r."! for the second day in a row, federal reserve chairman ben bernanke told congress the central bank is not about to change its strategy, and for a second day, a strong rally on wall street. the dow surged 175 points to a five year high, the nasdaq added 32, the s&p was up 19 points. investors and traders warmed to the federal reserve chairman's steadfast support of the central bank's bond buying spree, he thinks the asset purchases are necessary to keep interest rates low in order to spur growth and boost hiring. the fed has been buying $85 billion a month in american i.o.u.'s since last september. while it won't stop the strategy, it will soon start talking about how to stop. >> we haven't done a new review of the exit strategy yet. i think we will have to do that sometime soon. even if we don't sell any securities, it doesn't mean that our balance sheet is going to be large for many years, it just would be maybe an extra year, that's all it would take to get down to a mor
, and investors are seeing in the u.s. economy. we preview the economic state of the union. why regulators need to treat them like other business. then u.s. airways sees big benefits in merging with american airlines. we look at the new landscape for airlines if the deal goes through. we have that anmore tonight on nbr. president obama is preparing to deliver his first state of the union address of his new term, tomorrow. the american people will be listening carefully to his plans to grow the economy, especially as they struggle with less take home pay, and worries about their jobs. while there are signs of improvement in the economy, the unemployment rate rose in january to 7.9%. so what is the current state of the economy? erika miller talked to two experts with different views. >> reporter: it may seem strange to many investors that the stock market can be hovering at five- year highs, when the economy is so weak. but what's fueling the rally is not the current situation, it's hope. >> we've taken out some of the downside tail risks. so, we're feeling like although it's not going to be a bo
, wall street could use some new headlines to chew on. good economic data would be nice. friendly washington politics would also be helpful. tonight's state of the union speech might give investors a clue as to whether that's likely to happen. veteran trader teddy weissberg is hoping president obama will stress the need for bipartisanship but isn't sure that's what he'll hear. >> in terms of tonight, i don't think anybody that i talk to in the wall street arena expects to hear anything terribly dramatic one way or another. >> reporter: since lawmakers and the white house kicked the proverbial can down the road around new years, the stock market has rallied rather nicely. the s&p 500 is up nearly 7% and the dow is about 150 points away from its all-time high. of course, stocks have been getting help from corporate america, too. it turns out fourth quarter profits were better than expected, led by the housing sector and financial firms. >> about 345 companies have reported so far, of which 70% have beaten earnings expectations and 66% have beaten revenue expectations. both of these
. the u.s. airways/american airlines merger is ready for take-off, and the companies say they see no turbulence ahead from washington regulators. and senate democrats offer their plan to head off the sequester's sharp spending cuts. we get the details from michigan senator debbie stabenow. we have that and more tonight on "n.b.r." two big sweetheart deals on this valentine's day: american airlines is merging with u.s. airways, creating the world's largest airline company; and warren buffett is buying h.j. heinz, the biggest food company acquisition ever. we'll have more on american in a moment, but we begin tonight with buffett and that surprising mega-food deal. the billionaire investor is teaming up with the billionaire owners of 3g capital to buy the ketchup maker for $28 billion. the private equity group and buffett's berkshire hathaway are paying $72.50 a share in cash. that's a 20% premium over heinz's closing price yesterday. ruben ramirez reports. >> reporter: the oracle of omaha now has a new title: ketchup king. for the first time, warren buffett, who's shied away from w
-- including u.s. government officials who in 2007 publicly stated that problems in the subprime market appeared to be contained." >> reporter: s&p goes on to argue that the securities at issue in the justice department's case were reviewed by another ratings agency and received the same rating. s&p says it also began downgrading many mortgage securities in 2006, warning that conditions in the housing market were deteriorating. but critics say what matters is what s&p claimed at the time it stamped securities triple a. >> the ratings agencies claim that they have unique analytic abilities and very sophisticated models that enable them to determine the credit worthiness of a bond, a derivative, a security. >> reporter: s&p points out court rulings have dismissed what it called challenges to a credit rating made with 20/20 hindsight. if the justice department does sue, standard and poor's says it will vigorously defend itself. darren gersh, "n.b.r.," washington. >> tom: still ahead, tonight's word on the street: consumers, the street.com's david peltier joins us with some consumer product
rain and snow, but not on saturdays. the u.s. postal service is dropping saturday letter deliveries to save billions. >> tom: i'm tom hudson. fresh pain at the pump. american drivers see a steep jump in gas prices: up 15 cents a gallon in the past week alone. >> susie: and the federal reserve says it's been hit, by cyber hackers. we look at u.s. businesses and just how safe their networks are. >> tom: that and more tonight on "n.b.r."! >> susie: the u.s. postal service says this summer it will stop delivering mail on saturdays, ending a service that began 150 years ago. cutting back to a five-day a week schedule will save $2- billion. the post office has been losing about $20 million a day, as e- mail useage ramps up and mail volume plunges. congress has required the post office to deliver six days a week, but the postmaster general believes there is a loophole in the law that will allow him to make the change. darren gersh reports on the business fallout. >> reporter: first class mail is the postal service's most profitable product. it is also a business that is disappearing at the
industry. >> susie: the u.s. government wants as much as $5 billion from standard and poors, officially accusing the credit ratings agency of fraud during the housing boom. >> tom: and earnings from a trio of consumer stocks finds us spending money on eating out and watching tv. >> susie: that and more tonight on "n.b.r." >> tom: a bold new chapter for computer maker dell was opened today. michael dell said today he's taking the company he founded almost 30 years ago private. it's a $24.5 billion deal offering dell investors $13.65 per share. now, at one point, dell was the largest p.c. maker in the world, boasting market capitalization of more than $100 billion. now, it sits behind apple, hewlett packard and lenovo, valued a fifth of what it once was. ruben ramirez begins are coverage. >> reporter: michael dell admits he missed the consumer shift away from the p.c. to tablets and smartphones, but today's announcement his company is going private doesn't necessary address how dell is going to try to capture those markets. >> they want to continue to be a hardware player, but the questio
its easy efforts to stimulate the economy had u.s. markets seeing green. the dow gained 116, the nasdaq is up 13, and the s&p rose nine. washington bureau chief darren gersh has details on the fed chairman's strong defense of his aggressive policy to support the economy. >> reporter: sure, there are risks when the federal reserve is buying almost $3 billion worth of bonds every day. but chairman ben bernanke told congress basically, "we got this." >> although a long period of low rates could encourage excessive risk taking, and continued close attention to such developments is certainly warranted, to this point, we do not see potential costs to the increased risk- taking in some financial markets is outweighing the benefits of promoting a stronger economic recovery and more rapid job creation. >> reporter: with unemployment stuck around 8% and inflation subdued at 1.5%, there are no economic red lights flashing. so bernanke gave no signals he was ready to change course or back away from his aggressive program to get the economy back to a more normal level of output. still, t
to be the best cliche for the u.s. job market, right now. the nation's unemployment rate has been lurking just around 8% for the last six months. and, the number of news jobs created is barely keeping pace with population growth. still, some economists think the latest labor data is encouraging. >> when we look at the number of jobs being created even though it was a tad below expectations, it was still a healthy number that should continue to help the economy. >> reporter: the main reason for optimism: those positive revisions to november and december jobs data. it turns out, the government underestimated how many positions were added by 127,000. it was that miscount that helped push the dow over 14,000 for the first time in more than five years. and, at 14,000 the blue-chip index is about 150 to 200 points away from its all-time high. market pros like wayne kaufman predict new highs for stocks in coming weeks. >> many investors, retail investors, individual investors are reaching the point of recognition where they no longer believe the economy is going to collapse again, or that the stock m
by groups opposed to economic reform, on top of that, u.s. equities face a looming friday deadline for massive government budget cuts, known as "sequestration." the dow tumbled 216 points, the nasdaq fell nearly 46, and the s&p 500 lost 28 points. while there's been much talk of a correction in the stock market, sequestration may not be the catalyst. suzanne pratt reports. >> reporter: it is widely accepted on wall street that sequestration is coming. and, with it a new reason for the fragile u.s. economy to sputter. but, what will the first phase of billions of dollars in federal spending cuts actually do to the u.s. stock market? after all, major market averages are hovering close to all-time highs, and don't forget investors are finally warming up to equities again. floor broker art cashin says today's selling was mostly a reaction to italy's election, and that the stock market is not yet focused on sequestration. >> i don't think that even we slip into sequestration it will have the same dramatic effect that the fiscal cliff and the debt ceiling had. it is seen as somewhat temp
saying, "we think our stock is overvalued, let's use it while we can to buy the competition." >> reporter: there may be a lot more corporate marriages in the months ahead, but stovall says the stock market still needs to digest its recent gains. >> i think that we could end up seeing a relatively mild correction in prices, something on the order of 5% or maybe more. but then we're going to see a lot of investors say, "it's time to jump back in because i missed most of this move." >> reporter: stovall also says any stock market correction needs a trigger. what that may be, however, is anyone's guess. suzanne pratt, "n.b.r.," new york. >> tom: dell is among those companies involved in the deal- making this year. its founder and a group of investors wants to take dell private. in the meantime, the company reported better than expected quarterly earnings late today. dell earned 40 cents per share last quarter. while that's down considerably from a year ago, it is slightly better than wall street estimates. still, business continues to be tough. the lone business dell saw revenue grow last qua
Search Results 0 to 10 of about 11